Business

ExxonMobil’s controlled Esso Exploration and Production Guyana Limited (EEPGL) on Wednesday said it was very close to reaching agreement with the Environmental Protection Agency (EPA) on a US$2 billion assurance to help fund a clean-up should there be an oil spill. EEPGL’s Vice President and Business Services  Manager, Phillip Rietema said his consortium and the EPA were quite close to ...

The state-owned Guyana Power and Light Inc (GPL) on Monday said the Russia-Ukraine war has triggered a sharp spike in the price of fuel, resulting in monthly operational expenses being GY$4.5 billion compared to GY$3 billion in revenues. “As we witness these developments from a safe distance, the effects have already reached our shores and by extension, the Company,” GPL ...

President Irfaan Ali on Sunday said government was turning to Guatemala, Latin America’s second largest sugar producer, to revive the ailing Guyana Sugar Corporation (GUYSUCO) which he insisted would not be closed because of its socio-economic and financial importance. “That is why Guatemala is also coming in to help us.  We are not going to reinvent the wheel so sugar ...

Ahead of the reduction of more COVID-19 measures, President Irfaan Ali on Sunday said arriving passengers at Guyana’s two international airports would no longer have to fill out COVID location forms. He said passengers no longer needed to fill up COVID locator forms and have them stamped at the Health Desk before going to immigration, in response to complaints by ...

President Irfaan Ali on Sunday announced that he plans to meet with marijuana farmers to encourage them to get into the cultivation of high-value hemp. ” I intend to have a meeting very soon with all the marijuana growers in this country. I intend to have a meeting and to let them understand that there is a viable future in ...

President Irfaan Ali has recommended that the 15-nation Caribbean Community (CARICOM) and the Central American Integration System (SICA) combine their efforts to maximise food production in the region. He also proposed a joint meeting between the Central American Agricultural Council and CARICOM’s  Agricultural Ministerial Task Force “so that we can marry the priorities to establish a time-bound framework that is ...

ExxonMobil plans to drill 20 additional exploration wells offshore Guyana, as the company gathers more seismic data from other discoveries and plans to link oil producing vessels to nearby wells in order to guarantee a steady flow of crude, the company’s  Senior Vice President Neil Chapman said. Speaking during a question and answer session at Investor Day 2022 held on ...

The People’s National Congress Reform (PNCR) on Wednesday slammed the Irfaan Ali-led administration for shutting out the opposition from the Natural Resource Fund’s (NRF) Board, dashing hopes of keeping an eye on how the ‘oil money’ would be spent. “By these actions, the PPP has shown again its total lack of interest in transparency, accountability and inclusivity. It continues to ...

In the wake of concerns by the Caribbean Private Sector Organisation (CPSO) about whether Guyana’s local content legislation is breaching Caribbean Community (CARICOM) single market rules, regional leaders have agreed to consider what should the amount of local content and over what period, Barbados Prime Minister Mia Mottley said Wednesday. Briefing the media on the outcome of the CARICOM mid-term ...

Increasing agriculture output and reducing the 15-nation Caribbean Community’s (CARICOM) food import bill have received a financing boost with the availability of credit facility at Republic Bank. In a statement issued late Tuesday night, the Guyana government said President Irfaan Ali reported to colleague CARICOM leaders at their mid-term summit in Belize that “concrete progress” has been made in getting ...